Vietnam: A type of grain is witnessing a record price storm, the highest price increase in nearly 50 years

Published 2023년 9월 7일

Tridge summary

Global cocoa bean prices continue to rise due to supply concerns and unfavorable weather conditions in West Africa, the top cocoa-producing region. As a result, chocolate manufacturers like Lindt and Hershey Co. have issued warnings about potential price increases and reductions in product size. Vietnamese cocoa beans, although accounting for a small portion of global output, are highly regarded for their unique flavor and have been recognized as the best in Asia-Pacific at a prestigious competition in 2013.

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Original content

Chocolate - a popular food around the world - is increasing in price, all due to this type of nut. The supply of cocoa beans is entering a period of stress, which is an extremely important ingredient of the world's favorite food: chocolate. Markets on September 6, cocoa futures on ICE London reached a new 46-year high as supply concerns persisted amid pessimistic weather reports in West Africa, while white sugar leaving a 12-year high. December 2023 London cocoa rose 21 pounds, or 0.7%, to 2,981 pounds/ton, after reaching its highest price since 1977 of 3,001 pounds. Cocoa price movements over the past 5 years (Source: Trading Economics) Dealers cite concerns about recent weather developments in West Africa, the top producing region, as adding to existing concerns that the market is heading for a third straight deficit in the 2023 season. /24 (from October to September). The region is expected to experience moderate to high rainfall over the next 10 days, which could slow ...

Source: Vinanet